As a professional photographer, you likely want to spend most of your time capturing picture-perfect moments and basking in creativity. But owning a photography business comes with its own challenges that distract from your passion. As is the case for every other business owner or entrepreneur, there’s always a chance you’re vulnerable to insurance claims. So, whether you’re shooting weddings every weekend or just doing freelance headshots on the side, you’ll want to know what types of commercial policies are needed when it comes to insurance for photographers.
Three Common Types of Insurance for Photography Businesses
Here are the three most common types of insurance policies among photographers:
1. Commercial Property Insurance FOR PHOTOGRAPHERS
Photography isn’t an inexpensive hobby, nor is it an inexpensive profession to have! Cameras, lenses, lights, hard drives, memory cards, editing software, and computers can get very pricey. Commercial property or property liability insurance helps protect your equipment and technology in the event of damage, loss of use, or theft. If you rent or own photo studio space, this covers the physical space and the contents inside (furniture, props, etc.).
2. General Liability Insurance FOR PHOTOGRAPHERS
General liability insurance typically covers legal and settlement costs associated with third-party claims of bodily injury, property damage, and advertising injury. This could be someone tripping over your camera equipment during a shoot (bodily injury) or your aerial drone crashing into a client’s window (property damage). In these cases, your general liability policy would cover any resulting legal, settlement, medical, or property repair/replacement costs.
3. Professional Liability Insurance FOR PHOTOGRAPHERS
Often referred to as errors and omissions insurance, this policy protects your photography business from being sued by a dissatisfied client and against any client claims that you failed to deliver agreed-upon services. Many such claims can be outside your control, such as bad weather, toddler tantrums, and technical issues. These can help against the above but also honest errors on your behalf, covering lawsuits, contract breaches, and fines.
A Note About Business Owners Policies
Many insurance agencies offer general liability and commercial property insurance, as well as business interruption insurance, bundled into a single policy known as a Business Owners Policy (BOP).
Other Business Insurance Policies Photographers May Consider
Depending on your specific business situation, you may need additional insurance policies. For instance, if you employ photo assistants or other workers, you’re required by law to purchase workers’ compensation insurance. This covers workers injured on the job as well as work-related illnesses. And the vehicle you use to transport your photo equipment and drive to and from photoshoot locations needs a commercial auto policy. This insurance covers accident-related expenses resulting from injuries, death, or property damage.
Does My Personal Insurance Already Cover My Business?
As a photographer, you might mainly work out of your home; however, this doesn’t mean your homeowners or renters insurance covers business-related insurance risks. Because you work in and with the public (e.g., a photoshoot at a park) and other places where you could conceivably cause bodily injury or property damage to third parties, you have a liability exposure and need a separate policy for your business. In fact, there are many cases where you’ll be required to provide proof of insurance in order to conduct business—for event venues you’re going to photograph at, on permits with the city to use public space for a photoshoot, and even to stores from which you’re renting photo gear.
Small business owners like yourself are very busy and shouldn’t spend more time than they need to researching commercial insurance policies, comparing prices, and picking a provider. Let World Insurance Associates ease that burden for you by reaching out today.
This article is not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.